Project Management - The Basics

There was a time when the corporate culture did not recognise the need of project-management as a separate field. However, with the passage of time and gaining experience of corporate firms, the demand for project-management as a separate field has generated. To lead the firm towards attainment of it objectives in an effective and efficient manner, it is essential for it to ensure that project-management is taking place.

To understand the fundamental information regarding project-management, it is of immense significance to first fully comprehend its meaning. Project-management is the exercise or task that requires planning, organising, and managing resources to consequent in a successful accomplishment of a particular project's aims and objectives.

A project is an impermanent endeavour, which has a specified commencement and closure bound by a date. In some cases, the constraints might include funds or deliverables. These constraints are mentioned to accommodate certain aims and objectives. This attribute of the projects being temporary is about the business operations.

The basic idea of project-management is to ensure that all the objectives are met while keeping in the boundaries of the mentioned or specified constraints. The most common limitations that are used about project-management are scope, time, and budget. Furthermore, project-management requires incorporation of proper distribution of inputs, which are needed to meet the pre-specified objectives.

The initiation of project-management is done by first establishing the aims and objectives; these may include project requirements and specifications. The project manager determines these requirements. He will be responsible to make sure that the project is completed within the specified time, budget and at the pre-determined quality.

He will also be liable for communication between stakeholders to teammates. The project manager next assembles the resources. These may include people and equipment to complete the desired objectives. The project manager should next keep the track of project. He can do so by ensuring that the deadlines are met and lessons are learned for the next project.

There are five stages which project management incorporates.

The first is the initiation, goals are developed and respective people are told the scope of the project.

The second stage planning requires you to arrange all required things that will ensure that the goals and objectives are met.

The third step is called the execution or implementation. This stage is where the project tracking software is used. With the use of appropriate software, you can decide if you have over allocated or under allocated.

The fourth step of project management process is called the monitoring and controlling process. This step often asks the project manager to rework the plan and execute again unless the problem is identified and is controlled accordingly.

The fifth and the last step of this procedure is called as closing, this requires the project manager to submit detailed summary reports including costs and resource work to the respective people.